If the university downsized and charged more but offered more perks that rich kids were willing to pay for you're in a space where OSU can't compete.
How is that not what Miami has been trying to do for 25 years to compete with OSU and has failed miserably at? If it wasn't for their Chicago pipeline, the disparity would be even more glaring. One study that was sent to me showed that of Ohio kids with an admission to both Miami and OSU and who choose one of the two schools, 90% choose OSU.
And what kind of amenities are we going to offer that OSU can't compete with? They have a 5 or 6 billion dollar endowment. As I noted above, they have a greater amount of aid to offer that they take a 12% advantage in tuition costs and stretch it to a 20% advantage in net cost over Ohio. We're not winning any merit aid contests with them for students they truly want. As for physical amenities, they've spent hundreds of millions keeping up with the Big Ten Joneses in luxury dorms, huge student unions and rec centers.
As someone else noted above, the race to compete with OSU is over. They dropped the big one on the rest of the system a long time ago, and I blame the previous administration (which btw benefited greatly from a favorable demographic window as far as enrollment goes) constantly pumping out the sunshine that we could overtake OSU for the unrealistic notion among many that it's a realistic goal. What the current administration needs to focus on is the realistic task of competing with Miami and Cincinnati for second place. Being the second public university choice in a large state is a pretty good place to be.